Fast facts

Google’s ambition to digitise every book ever published and make the results widely available has been derailed, after a federal judge in New York rejected a sweeping$US125 million legal settlement the company had worked out with groups representing both authors and publishers. The decision throws into legal limbo one of the most ambitious undertakings in Google’s history. Judge Denny Chin said the settlement went too far, effectively granting Google a “de facto monopoly" and the right to profit from books without the permission of copyright owners.

The New York Times

Wholesale voice and data provider
Vocus Communications
has launched the retail shareholder stage of its $15 million capital raising.

The latest release seeks $1.9 million from existing shareholders. Each party will be able to purchase up to $15,000 worth of additional shares until the offer closes at 5pm on April 12.

Patersons Securities has underwritten the share purchase plan.

The initial stage, which targeted institutional investors, fetched $13.1 million in the company’s first capital raising since launching on the ASX. David Ramli

The Victorian government is refusing to guarantee it will set aside funds in the May budget for an IT system at the new $1 billion Royal Children's Hospital.

State Health Minister
David Davis
said the previous Labor government rejected the plan, and the new IT system would cost around $24 million.